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Local lenders? - Now more than ever ----

By
Mortgage and Lending with Apex Home Loans NMLS #369577

Now more than ever potential borrowers need to put their trust in a seasoned, LOCAL mortgage banker. With programs disappearing daily, investors disappearing daily and media hype, I believe the best people to turn to are your local lenders.  These are people who shop in your community,  have kids that go to school with your kids and interact with other local businesses.

In this current lending environment, the question should no longer be "how low are your rates?", but rather "can you get my loan funded?"

As local lenders, we have ties to the community and more than just making a buck in mind when arranging home financing for clients. Too much hype is provided by the media, especially regarding the recent Fed rate cuts. I can not tell you how many calls I have received in the past few days that asked the question - "how low have your rates dropped?"

Well, all you mortgage professionals out there realize that rates have not dropped and in fact, they have gone up. Team up with a local professional. Go to their office. Shake their hands. Get to know them. Talk with your accountant and financial advisor's. They can be great sources for local lender referrals. Be cautious when dealing with  the big internet lenders that suggest rates are at all time lows. And always, always, always ask for a good faith estimate in writing before committing to anything.

My question to all is - why do you think we are in the current mortgage crisis at this time?  As one of those huge internet lenders suggest in their recent media ad - "people are smart" - so do your homework and make a sound financial decision. Talk to a mortgage broker here on Active Rain. Someone away from your area who can not even lend in your state. There are great resources out there. Be smart and use them......

 


Lewis Poretz

President

                       

Posted by

 NMLS ID - 369577

MORTGAGE ADVICE - PROBLEM SOLVER 

High Quality Advice - Proven Results

             

contact me directly - 301-332-9540

email me directly - lewisporetz@gmail.com 

"I am not in the mortgage business - I am a highly skilled mortgage banker who is in the customer service business."

 

Comments (3)

David A. Podgursky PA
THE PODGURSKY GROUP @ Re/Max Direct - Boynton Beach, FL
THE PODGURSKY GROUP - Make the Right Move!

I agree... local is important

and I'll add BROKERs to it as well

because we may not be able to close with one lender but we can with another

on my tricky niche files, I always look to local banks now!

Sep 24, 2007 02:48 AM
New Jersey Real Estate James Boyer Morris, Essex & Union County NJ Realtor
RE/MAX Properties Unlimited, Real Estate - Morristown, NJ
I agree, in fact a local mortgage person is much prefer-ed in any market.  Just easier to work with and not really more expensive.
Sep 24, 2007 02:57 AM
Jolynne Photography, Creative Wedding Photography, Family Portraits, Bar Mitzvahs
Jolynne Photography - Hemet, CA
Bat Mitzvahs, Senior Pictures, Event Photography
Local is the key word, not necessarily Broker (as David shared), as a local, direct lender can sell on the second market as well.  Thanks, Lewis, for a great post.  Keep in touch..I only do loans in CA.
Sep 25, 2007 10:12 AM